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FINANCIAL NEWS
Lulu to launch its first Indian branch in 2012’s Q1
25 Jul 2011
(MENAFN) Emke Group’s spokesman, V Nandakumar, said that in 2012’s first quarter, the Indian company’s subsidiary, Lulu Group, would launch its first mall in India, reported The National.
Nandakumar added that the cost of the mall, which would be opened in Kochi, Kerala, would reach more than USD353.9 million; it would house more than 300 national and international brands. In addition, the mall would include 7 multiplex theatres, family amusement centers, a bowling alley, restaurants and a food court.
He also said that the group planned to expand its investments in India, taking advantage of the growing emerging market there, where retail sales would be forecasted to expand within the next five years.
It is worth noting that Emke Group is located in Abu Dhabi. It has around 27,000 employees where more than 22,000 of them are Indians, in addition, the company manages several malls in the emirate.
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